Authorizes the President to dispose of specified obsolete and excess materials in the National Defense Stockpile.
Increases as of January 1, 2002, the rates of military basic pay. Extends certain bonus and special and incentive pay authorities. Authorizes: (1) an accession bonus program for officers with critical skills; and (2) certain travel and transportation allowances.
Sets forth provisions or requirements concerning: (1) commissaries and nonappropriated fund instrumentalities; (2) active and reserve military personnel policy, including the review of actions of personnel selection boards and the extension of certain military force drawdown transition authorities; (3) military education and training; (4) military decorations, awards, and commendations; (5) educational assistance under the Montgomery GI Bill; (6) acquisition policy and management, including acquisition workforce development; (7) general contracting procedures and limitations; (8) military construction, military family housing, and the leaseback of defense base closure property; (9) Department of Defense (DOD) organization and management, including the operation of regional centers for security studies; (10) matters relating to other nations, including cooperative research and development projects with allied countries; and (11) DOD civilian personnel, including a pilot program for the payment of retraining expenses.